New Zealand agritech startups and innovators can now look across the Tasman to tap into funding options and partners on their journey to becoming commercially viable businesses.
Harriet Mellish, general manager for AgriFutures Australia’s global innovation network GrowAG, paid a quick visit to the E Tipu conference in Palmerston North to give insights into opportunities lying across the ditch, thanks to the network’s connecting platform.
“Australia has some fantastic research and development work coming out of our R&D labs and universities. But when you look at it on a global scale, we are only 2% of the world’s R&D so we can’t do it all on our own.
“So, for us it is about how do we build out those global strategic partnerships that really support our agriculture, the export of our tech, but also bringing in the best of our ideas. We can’t do everything on our own.”
While not a funding entity in itself, the AgriFutures network opens the door to those that are.
“Our role is really around how we join up partners. We have a concierge team whose role is to work on how we can support deals.
“In the three years since we launched, we have supported over NZ$168 million in startup investment, featured over 3000 research projects and welcomed visitors from 190 countries.”
The platform has already worked alongside a number of NZ companies. These include six projects “live” on the AgriFutures digital platform seeking research partners, suppliers and investment.
One of those is Fleecegrow, a wool waste innovation company researching turning wool waste into a plant-growing medium, as well as fertiliser.
Another startup, Map and Zap, is an artificial intelligence-driven early growth stage startup using AI for weed identification and then using lasers to destroy the weeds as an alternative to conventional chemical treatments.
Mellish said NZ and Australia share a common thread in having innovative, unsubsidised farmers drawing on strong shared pastoral experience and the tyranny of distance from northern hemisphere trade partners and competitors.
Mellish agreed Australian agriculture is in good heart, and is united behind a target of achieving AU$100 billion in revenue by 2030.
“We have had some fantastic years when you look at our grains and our livestock pricing. When you look at the agri-food innovation sector in particular, it is thriving.”
When it comes to technology advances, the work was “not just an app”.
“We see a number of producers really looking to engage with technology and how it supports improved productivity outcomes, and around reporting and managing emissions.”
New Zealand agritech startups wanting to see opportunities on the AgriFutures platform can visit it here
